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China's Dagong announce 'no downgrade' to UK sovereign rating

Dagong Global Credit Rating has today announced that it will not be downgrading the UK’s sovereign rating after the Brexit fallout.

In a release made public on the Chinese company’s WeChat account (the Chinese equivalent to Twitter), the global credit rating agency announced that there will be no negative impact to the UK rating due to the uncertainty created by Brexit.

The view that China may benefit from Brexit was further supported when Guo Guangchang, the chairman of Chinese international conglomerate and investment company Fosun, told Reuters China this morning that “the group is interested in investing in Europe, especially England” in the second half of the year.